Coinlaw.io reported that “The Spanish Ministry of Finance has drafted a bill aimed at clamping down on cryptocurrency holders using legal loopholes to avoid asset declaration laws.” The October 25, 2018 article entitled “Spain Set to Clamp Down on Crypto-Holders Flaunting Asset Declaration Laws” included these details about the draft bill:

  • proposes the imposition of a 0.2% tax on purchases of listed shares valued at more than a billion euros.
  • is projected to raise a further 850 million euros in tax revenue to help the Spanish government fund much-needed investment and welfare spending as the country faces a daunting 33.8% youth unemployment figure.

This may set a interesting precedent for Cryptocurries